Besides accountants, which users do you think rely on journal and ledger records (e.g., managers, investors, owners, creditors).  Why?

Q: How does the time period assumption affect an accountant's analysis of business transactions ?

A: Time period assumption state that business organizations are required to prepare and present their…

Q: What are the roles played by accountants with respect to the information system?

A: Information system is the collection of people, Network, process and system that help the…

Q: Why are traditional accounting events such as recording a transaction in a journal or posting to…

A: The traditional accounting events such as recording transaction in a journal not modelled in REA…

Q: What role does an Accounting Information System play in today's accounting?

A: The accounting information system is a way to keep the track of all the business transactions and…

Q: Explanation of a business's accounting function. What is the function's purpose, and why is it…

A: INTRODUCTION: Accounting is the discipline of recording and reporting on a company's financial…

Q: Why would a client ask an accountant to report on a financial statement element?

A: Definition:

Q: How do companies use information from their accounting systems and statements?

A: Accounting systems and statements are often used to support management decisions. An income…

Q: describe the fl ow of information in an accounting system

A:

Q: Discuss the place of books and documents in accounting, considering the functions and basic concepts…

A: The accounting process starts with the identification of monetary transactions and recording of…

Q: chart of accounts

A: Chart of Accounts -: A Chart of Accounts also known as COA is an index of all the financial accounts…

Q: How do we get the accounting records ready to prepare financial statements?

A: Explanation - There are three statements of the organization which show different accounting…

Q: In yesteryear's accounting world, what role does an Accounting Information System

A: Accounting information system (AIS) is a collective mechanism wherein information or data related to…

Q: What is the Accounting Information System in today's accounting practice?

A: The answer for the theory question on role of Accounting information system in today's accounting…

Q: Why are traditional accounting events,

A: Answer:

Q: how you will use accounting information both as an internal and an external user?

A: The accounting is a process to classify and record the business transactions and prepare the…

Q: Name some users of accounting information.

A: Accounting is defined as an information system that reports the financial performance of a business…

Q: t

A: Definition of an Accountant An accountant is an expert who is liable for keeping and deciphering…

Q: Who are the èxternal user's of accounting information

A: The accounting information is used by the external user and internal user. The External users are…

Q: Why is accounting referred to be an information system? Explain with an example from your own point…

A: Information system is a system which is designed to collect, store and process information for the…

Q: Who will create and maintain the accounting systemthat you use to record routine business…

A: An accounting system is a system utilized in an organization to record transactions. It tends to be…

Q: 1. Name some users of accounting information. A group of users can be Business owners, managers,…

A: There are many stakeholders who use accounting information in their decision-making process. The…

Q: What are the 2 specific advantages of Accounting Information Systems (AIS) to ease accountants in…

A: Accounting information system is the system which collects, stores, records, summarise and report…

Q: You've studied about how transactions are documented and reported in your accounting classes. Why…

A: System of Accounting Information: Accounting information may be utilized for more than just reading…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are those persons which are external to the organisation…

Q: Recording transactions in the accounting system requires knowledge of the important characteristics…

A: IASB has made a revised framework which has been released in 2018

Q: Why does the accountants need to learn about information systems?

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: accounting records used in transaction processing systems?

A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…

Q: As an accountant, why do you need to know how to talk to systems designers and developers? What…

A:

Q: Accounting is the information system that measures business activities, processes the information…

A: Business enterprises seek inputs in the form of information from various sources that can be used in…

Q: The inputs in the information system is called as a. reports b. documents c. transactions d.…

A: The accounting is a process to analyze and record the data and further prepare the financial…

Q: Careers in accounting that you can go in Types of businesses and business ownership What are some of…

A: Seeking a career in accounting is a wise decision, as the accounting employment market is booming.…

Q: Describe one cause for the ongoing development of information systems and how it affects the duties…

A: Introduction: An information system combines methodologies, hardware, trained individuals, software,…

Q: Explain the accounting function of a business. What is the purpose of this function, and why is it…

A: Accounting responsibilities: Accounting functions may be divided into two categories: managerial…

Q: Why is accounting data so useful to users and stakeholders both inside and outside the business?

A: Stockholders own a portion of the company's capital stock. They are the business's actual owners.

Q: How do an organization's business activities and lines of business impact the design of an…

A: Accounting Information System(AIS) collects, records, stores, and processes accounting and other…